Fight against hunger is a global emergency

A recently published poll for the World Economic Forum shows that nearly a quarter of people globally, including those in developed economies, are struggling financially due to rising prices of food and fuel.For instance, in April 2022, 882.7 million people did not have enough food; 38% of them live on the African continent.There should be a focus on food insecurity, not discounting the right of the world&#039;s leaders to focus on finding a long-lasting solution to the raging inferno that is Russia&#039;s war on Ukraine. But argue that if the G7 leaders and beyond don&#039;t tackle hunger and food security head-on, it may lead to what amounts to an existential crisis, thus risking a summer of discontent.I recently documented how South Africa is dealing with skyrocketing food prices for ONE.org. Soaring food prices, rising inflation and disruption to the world food supply chain due to Russia&#039;s war on Ukraine could send the underclass over the edge.It has a real possibility of choking the middle classes, increasing stunting amongst the children and reversing the gains made before the Covid-19 global pandemic.As the humanitarian crisis resulting from the Russian invasion of Ukraine increases, the cost of bad politics is mounting for the rich and poor.Across the African continent, food price inflation (median) was already, in April 2022, higher at 6.9%. Estimates show that Zimbabwe&#039;s outlier food price inflation has reached a staggering 75.1% by March 2022.OilIn South Africa, per capita import costs for palm and sunflower oil could increase 2.5-fold from US$6 to US$15. According to the Reserve Bank&#039;s May estimates, food price inflation has been revised and is now expected to be 6.6% in 2022, up from 6.1%. In April 2022, it was 6.4% in April 2022, already more than double the rate from April 2019.The fuel price, which affects almost everything else, has risen by a third in the twelve months to March 2022, said South Africa’s President Cyril Ramaphosa recently.Although South Africa is a middle-income economy in Africa, approximately 11% (6.5 million) of South Africa&#039;s people are hungry and food insecure. Since Russia&#039;s invasion of Ukraine began, an additional 56.9 million people are experiencing hunger in 44 out of 92 countries, according to data from the World Food Programme (WFP).South African Reserve Bank Governor Lesetja Kganyago summed it up well recently: "Dramatically higher oil, commodity and food prices, additional constraints on trade and finance, and rising debt costs worsen economic conditions for most emerging and developing economies."The present food crisis comes from the costs of the global Covid-19 pandemic, which increased food insecurity by 25% in 2020 and 80% from the 2016 figures. Last year alone, almost 40 million people faced a food emergency or worse.Interestingly, South Africa responded positively to the Covid-19 induced economic restrictions by rolling out a special grant for the poorest of the poor. Today, over 10 million South Africans receive about R350 per month as part of the Social Relief of Distress grant. Sadly, this cushion for the poorest of the poor ends in March 2023.-Fin24

Fight against hunger is a global emergency

Comments

Namibian Sun 2022-07-04

Please login to leave a comment

Fight against hunger is a global emergency

Comments

Namibian Sun 2022-07-04

Please login to leave a comment

Login